Monday, December 2, 2013

BSE Sensex - Ichimoku Study - Tenkan Sen Bounce - Week 1 of December 2013.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 29 Nov'13

Introduction / Primer to Ichimoku, can be read at this link (click). 

Learning from the Past Week: (click here for previous post)

Bulls retake the Tenkan Sen with a green week #W2.
Chikou Span deflects off  the Price Line  #W1.

Wrap: With a Chikou Span deflection, Bulls get above the Tenkan Sen.

Looking Forward into the next Week:

Chikou Span keeping above the Price Line critical for Bull move up #W1.
Bulls need to stay above the Tenkan Sen to remain in the game #W2.

Wrap: Bulls with the deflection of the Chikou Span off the Price line could make another go at the ATH - Bears look to get below the Tenkan Sen #W2.